Walker & Dunlop Provides $120 Million in Fannie Mae Financing for High-Rise Apartments in Long Island City

Walker & Dunlop Provides $120 Million in Fannie Mae Financing for High-Rise
Apartments in Long Island City
PR Newswire
BETHESDA, Md., Jan. 30, 2013
BETHESDA, Md., Jan. 30, 2013 /PRNewswire/ --Walker & Dunlop, Inc. (NYSE: WD)
announced today that it recently provided $120,000,000 in Fannie Mae financing
to TF Cornerstone Equities, LLC, for 45-40 Center Boulevard, a high-rise
residential multifamily property, located in Long Island City, NY. The loan
was structured with a 10-year term with 5-years interest only, followed by a
30-year amortization period.
(Photo: http://photos.prnewswire.com/prnh/20130130/PH50535)
45-40 Center Boulevard is part of Stage Two of the Queens West Development
master plan which, once completed, will include seven mixed-use residential
buildings, 3,000 apartments, 1,825 parking spaces and numerous retail outlets.
The building features 345 units with luxury amenities including a concierge,
valet services, a rooftop terrace/garden, and a full-service restaurant on the
ground level. In addition, residents will have access to the East Coast Club,
a top-of-the-line fitness center, adjacent to the building and scheduled to
open in early 2014.
Walker & Dunlop President & CEO, Willy Walker, commented, "The financing of
45-40 Center Boulevard in Long Island City was a herculean task by the entire
deal team, led by Steven Heller – from start to finish, this deal was executed
flawlessly. 45-40 is a gorgeous property with spectacular views of the
Manhattan skyline and financing such a landmark property for such a renowned
developer is just fantastic."
Walker & Dunlop Senior Vice President, Steven Heller (609/833-2302,
sheller@walkerdunlop.com) led the Walker & Dunlop team.
About Walker & Dunlop
Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD)
is one of the leading commercial real estate finance companies in the United
States, with a primary focus on multifamily lending. As a Fannie Mae DUS®,
Freddie Mac Program Plus® and MAP- and LEAN-approved FHA lender, the
Multifamily and FHA Finance groups are focused on lending to property owners,
investors, and developers of multifamily properties across the country. The
Capital Markets group specializes in financing commercial real estate for
owners and investors across the United States, securing capital from large
institutions such as life insurance companies, commercial banks,CMBS lenders,
pension funds, and specialty finance companies. The Principal Investments
group provides institutional advisory, asset management, and investment
management services with respect to debt, structured debt and equity,
including interim financing. Walker & Dunlop, LLC has over 400 employees
located in 21 offices nationwide. More information about the Company can be
found at www.walkerdunlop.com.
SOURCE Walker & Dunlop, Inc.
Website: http://www.walkerdunlop.com
Contact: Investors: Claire Harvey, Vice President, Investor Relations,
+1-301-634-2143, charvey@walkerdunlop.com; Media: Susan Weber, Vice President,
Marketing, +1-301-215-5515, sweber@walkerdunlop.com